Income Tax : ऑनलाइन जुए की जीत पर 31.2% कर और कोई रिफंड नहीं, खिलाड...
Income Tax : When a taxpayer submits their Income Tax Return (ITR) and requests a refund, they need to wait for the Centralized Processing Cent...
Income Tax : Learn why Income Tax refunds are failing due to unlinked PAN with bank accounts, the implications, and how taxpayers can resolve t...
Income Tax : Learn how to validate bank accounts for income tax refunds for AY 2024-25. Ensure a smooth refund process by following these essen...
Income Tax : Learn about interest rates applicable to income tax refunds and short tax payments under Income Tax Act. Find out how to calculate...
Income Tax : Out of 3.94 crore valid ITRs for AY 2024-25, refunds were processed for 3.68 crore. Reasons for delays include invalid bank detail...
Income Tax : The Finance Act 2023 integrates sections on refund set off and withholding into section 245 of the Income-tax Act, impacting how r...
Income Tax : Learn about the rise in tax returns filed in India, targeted campaigns encouraging filings, and steps taken by the government for ...
Income Tax : Ministry of Finance's latest update on Income Tax Returns (ITRs) for AY 2023-24. Over 6.84 crore ITRs verified, 2.45 crore refunds...
Income Tax : From the time where tax payer will forget how much refund is yet to receive and when they will receive to now, there is a remarkab...
Income Tax : As the AO had not allowed certain credits of advance tax, TDS and also interest on excess payment of self-assessment tax, assessee...
Income Tax : Madhya Pradesh High Court directs refund with interest to Birla Corporation Limited, ruling on delays in tax refunds and TRACES Po...
Income Tax : Karnataka HC directs the Income Tax Department to refund Rs.154 crore with interest to IBM India, as per the Supreme Court's direc...
Income Tax : Karnataka HC directs refund of Rs. 17.48 Cr, erroneously adjusted against a 2017-18 tax demand, with interest to LSI India Researc...
Income Tax : Tata Sons challenges incorrect interest calculation on refunds under Section 244A. ITAT Mumbai directs reassessment of refund and ...
Income Tax : SOP for investigating high-risk refund cases for AY 2024-25. Clusters of suspicious ITRs identified and disseminated for verificat...
Income Tax : Insight Instruction No. 8 guides Assessing Officers in verifying high-risk refund ITRs for AY 2024-25, detailing steps for verific...
Income Tax : CBDT issues comprehensive guidelines for condonation of delay in filing returns claiming refunds or losses under Section 119(2)(b)...
Income Tax : Explore detailed guidelines & procedures for verifying high-risk refund cases using Insights investigation tool. Learn how to navi...
Income Tax : Discover how jurisdictional assessing officers verify high-risk refund cases with Insight Instruction No. 77. Learn the SOP and st...
Kapilaben Kanjibhai Patel Oral Specific Deferred Family Trust Vs ITO (ITAT Ahmedabad)- Case involves calculation of interest on income tax refund under Section 244A of Income Tax Act. ITAT remands matter back to Assessing Officer for proper verification and calculation.
Tax season can be a stressful time for many individuals. However, with the help of an Income Tax Calculator, you can navigate the complexities of tax calculations and maximize your tax refund.
Explore case of Virtusa Consulting Services Pvt. Ltd. vs. DCIT in Telangana High Court, where petitioner seeks disposal of a rectification application and grant of refunds for pre-paid taxes.
In Sunrise Broking P. Ltd. Vs ITO, ITAT Ahmedabad abolishes penalty over additions made to interest on income tax refund, recognizing no concealment or inaccuracy in the income particulars.
Infres Methodex Private Limited Vs ACIT – Delhi High Court allows a 20% adjustment of refund against Income Tax demand
ITAT Chennai’s upholds entitlement of assessee to interest on tax refund under Section 244A, emphasizing principles of fairness and equity
Karnataka State Chartered Accountants Association (R.) addresses the significant issue of delay in income tax refunds. Read their comprehensive representation highlighting the challenges faced by taxpayers and suggestions for improvement.
Unravel the complexities of choosing the right ITR form for Individuals, Hindu Undivided Families (HUFs) and Firms based on factors like income sources, residential status, and total income.
Delhi High Court held that withholding of refund merely because notice has been issued under section 143(2) of the Income Tax Act is unjustifiable and bad in law.
Sanjay Sudan Vs ACIT (Delhi High Court) Delhi High Court held that deductee/ assessee cannot be called upon to pay tax, which is already deducted from his income as TDS. TDS not deposited by deductor cannot be set-off against refund amount payable to deductee. Facts- The petitioner was an employee of Kingfisher. The employer had […]
